Facebook will fork out $1 billion dollars to reward content creators
According to the Verge, creators can get a cash bonus for running ads on their videos or reaching certain tipping milestones during livestreams; on Instagram, creators can get paid for enabling ads on their IGTV videos, getting tipped in livestreams, or creating popular videos on Reels.
The money is available to creators on an invitation-only basis for now, and new options for making money will be announced later.
Facebook indicated it would expand availability to more creators later in the year, launching a “dedicated place for bonuses within the Instagram app this summer and in the Facebook app this autumn.”
The initiative is meant to make Facebook “the best platforms for millions of creators to make a living,” Facebook CEO Mark Zuckerberg said in a statement.
The money will be disbursed by the end of 2022.
Facebook is cracking down on ‘expert’ inside groups run by users
The social network says the new feature is designed to help real experts “stand out” in discussions.
Group admins will have the power to give the title to nearly any member they want.
That could mean that groups promoting conspiracy theories or fringe views may also be able to designate “experts”.
Earlier this year, Facebook changed its policies to remove groups which are against vaccines, and also stopped recommending political groups to new members.
Streaming service shift and the award season snubs
Netflix Introduces Changes to Subscription Model, Academy Award Nominations Spark Cinematic Buzz, and the Doomsday Clock Continues its Ominous Ticking.
Netflix is set to discontinue its ad-free Basic subscription in select countries, commencing with Canada and the UK in Q2 2024.
This strategic shift introduces a significant price increase for the baseline entry, signalling potential adjustments to Netflix’s global pricing structure.
Simultaneously, the 96th edition of the Academy Award nominations has stirred cinematic debates, with the prevailing question being whether the upcoming season will be dominated by “Barbie” or “Oppenheimer.” These contrasting narratives set the stage for a fierce competition, highlighting the diverse and compelling offerings in this year’s film industry.
Beyond the realm of entertainment, the Doomsday Clock, a symbolic representation of the likelihood of a human-made global catastrophe, continues its ominous countdown.
Maintained since 1947 by the Bulletin of the Atomic Scientists, the clock serves as a metaphor for threats arising from unchecked scientific and technological advances. As global tensions, environmental challenges, and technological risks persist, the ticking of the Doomsday Clock serves as a poignant reminder of the urgent need to address multifaceted threats to humanity.
Adidas faces potential $320M Yeezy shoe write-off post-Kanye split
Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.
The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.
The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.
However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.
The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.
Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.
Warner Bros discovery warns of Hollywood’s ‘real risk’ post-strikes’
Warner Bros Discovery, has issued a stark warning regarding the ‘real risk’ that Hollywood faces in the aftermath of the recent strikes that have taken a considerable toll on the industry’s financial health.
The strikes, which disrupted film and television production for several weeks, resulted in substantial financial losses for studios, production companies, and countless industry professionals.
Warner Bros Discovery emphasised the necessity for a resilient and adaptable approach to navigate the ongoing challenges and uncertainties facing the film and television sector.
The conglomerate stressed the importance of implementing measures to mitigate such risks in the future, which include fostering better labour relations and contingency planning to safeguard against potential disruptions.
The message underlined the need for the industry to adapt to the evolving landscape of content creation and distribution, particularly in the digital era.
This warning from Warner Bros Discovery highlights the need for the entertainment industry to recognise the ever-changing dynamics and economic challenges, and the importance of preparedness to maintain its prominent position in the global market.
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